Firewall As A Service Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, and Region

Firewall As A Service Market Definition:

The report explores the Firewall As A Service market and its segments (Application, Delivery Model, Service Model, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Firewall As A Service market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Firewall As A Service market's contemporary competitive scenario.

 

 

To get more Insights: Request Free Sample Report

 

Firewall As A Service Market Dynamics:

Increase in investment for Research & Development:

A surge in funding to be allocated for the growth and development of advanced and automated technology/machinery to prevent fraudulent activities has resulted from the increasing number of key market collaborations. Also, increased investment in research and development capabilities would pave the path for information technology advances. The market will benefit even more from the increasing integration of artificial intelligence and machine learning technology.

 

Increased global industry numbers to boost demand and supply in developing countries:

One of the primary reasons driving market expansion is the increasing number of small and medium-sized businesses around the world. In other words, the market's growth rate is directly influenced by the increased number of banking, financial services, and insurance (BFSI), education, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, retail, and e-commerce, telecommunications, and IT industries.

 

Increased cases in Cyber-attacks, Opportunities for small enterprises:

The information and communication technology industry has a lot of potentials as the global economy improves. But, as the volume of corporate data grows, the number of cyber-criminal acts grows as well. This could damage an organization's reputation and cause records to be manipulated. This will provide even more scope for growth.

 

Cloud-based firewalls will provide opportunities to the market:

Market value growth is driven by rising urbanization, modernization, and globalization. In other words, increased knowledge of the benefits of cloud-based firewalls among small and medium-sized businesses, particularly in developing nations, will open up more opportunities for market growth.

 

Other market growth variables include growing industrial infrastructure and the prevalence of a small number of vendors supplying services, greater use of centralized policy administration and easier installation, and increased volume of corporate data set. Also, in the forecast period of 2024 to 2030, the increasing proliferation of high-speed internet in developing economies would provide profitable prospects for market players. Also, the growing requirement to protect businesses' networks from unauthorized and unprecedented strikes, as well as rising service use due to seamless scalability, will drive the market's future growth.

 

Firewall As A Service Market Trends:

Data protection and breaches have become major challenges for businesses in a variety of areas, including banks, financial services, government organizations, healthcare institutions, retail, defense, IT & telecom, and many more, as everything is transitioning to the cloud environment. According to MMR report, 49% of databases throughout the world are not protected, and 51% of organizations are accessible to cloud storage services in some way, potentially exposing applications running in a hosted environment to cyber-attacks.

 

Also, the migration of traditional IT infrastructure to the cloud by user groups has resulted in a rapid increase of endpoints, necessitating enhanced firewall protection services tailored to the cloud platform. For smooth application processing, vendors in the market are offering upgraded versions of firewall-as-a-services with SSL offloading, content caching, and load balancing. Developed countries all over the world are embracing FWaaS as a critical solution for protecting their cloud environments and enhancing overall company activities.

 

Firewall As A Service Market Segment Analysis:

Based on Application:

The market can be divided into BFSI, healthcare, government, retail, education, manufacturing, and others based on application. Because of the increasing number of data security breaches, the retail segment dominated the market by more than 40% in 2023. A data security breach erodes customer confidence and perceptions, affecting the entire value chain and resulting in company losses. Retailers are additionally protected from cyber-attacks such as remote threats, thefts, and viruses using a firewall as a service solution. It also ensures that a transaction remains connected. Millions of debit and credit cards are associated with the retail industry, including all financial information within their databases and networks. As a result, attackers are increasingly targeting the retail industry, and retailers are increasingly adopting such solutions to defend their networks and maintain compliance.

 

 

Based on Delivery Model:

The market is divided into three categories based on the delivery model private, public, and hybrid. Due to increased FWaaS implementation among SMEs, the public delivery model held a significant Firewall as a Service market share, which is expected to be maintained during the forecast timeframe. It is a multi-tenant environment in which computing resources are shared among several clients. The companies are planning to use the public cloud to build, test, and distribute software more quickly. Due to market cost competitiveness, SMEs are quickly adopting the public cloud. Benefits like as better reliability, cost-effectiveness, and pay-as-you-go will drive the demand for public computing.

 

Based on Service Model:

Due to the increase in SaaS applications by businesses, the SaaS model is dominating the market and is expected to grow throughout the forecast period. It helps businesses cut their operating costs. The SaaS approach lowers the total cost of ownership since it eliminates the need for technical employees to manage, update, and license software. Because of the increased usage of mobile applications and BYOD in businesses, the market for network security infrastructure is improving.

 

Firewall As A Service Market Regional Insights:

North America dominated the market in 2023. Due to an increase in government and private sector initiatives for digital transformation and cloud adoption, the Asia-Pacific region is expected to grow during the forecast period of 2024-2030 due to technological advancements and the growing need to prevent cybercrime.

 

Firewall As A Service Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Firewall As A Service Market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Firewall As A Service Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Firewall As A Service Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Firewall As A Service Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Firewall As A Service Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Firewall As A Service Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Firewall As A Service Market. The report also analyses if the Global Firewall As A Service Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Firewall As A Service Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Firewall As A Service Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Firewall As A Service Market is aided by legal factors.

 

Firewall As A Service Market Scope:

Firewall As A Service Market
Market Size in 2023	USD 2.21 Bn.
Market Size in 2030	USD 9.68 Bn.
CAGR (2024-2030)	23.5%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Service Model SaaS PaaS IaaS
	By Delivery Model Public Private Hybrid
	By Application BFSI Healthcare Government Retail Education Manufacturing Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

FIREWALL AS A SERVICE MARKET KEY PLAYERS: 

• Fortinet, Inc.
• Spitfire Technology Group
• Forcepoint
• Juniper Networks
• Zscaler
• Cisco Systems
• Barracuda Networks
• Cato Networks
• Palo Alto Networks
• Watchgaurd
• Skybox Security, Inc.
• AlgoSec
• FireMon, LLC.
• F5,Inc.
• Vocus Group
• Sprout Technologies Limited